In a shocking turn of events, South Korean prosecutors have indicted Democratic Party leader Lee Jae-myung on bribery charges, alleging his involvement in a scheme with Ssangbangwool Group to illegally transfer $8 million to North Korea. According to local media reports, these transactions were purportedly aimed at securing government support and guarantees for Ssangbangwool's business ventures in North Korea and facilitating Lee's planned visit to Pyongyang during his tenure as governor of Gyeonggi Province.
Ssangbangwool Group, South Korea's largest underwear company, has expanded its operations into various other businesses. The prosecution accused Lee of engaging in third-party bribery and violating both the Foreign Exchange Transactions Act and the Inter-Korean Exchange and Cooperation Act. They argued that Lee breached the FETA by facilitating unauthorized payments to North Korea and the IECA by carrying out unauthorized economic projects with North Korea, including planning a visit without the approval of the South Korean Minister of Unification.
Lee vehemently denied the charges, asserting that the $8 million transferred by Ssangbangwool to North Korea was a separate action by the company to pursue business opportunities in North Korea and was not connected to the Gyeonggi government. He maintained his innocence and questioned the validity of the
The Democratic Party also criticized the timing of the charges, claiming they were politically motivated and aimed at undermining the opposition amid declining approval ratings for the current administration. In their statement, the DP argued that these charges serve as "a pillar for turning the situation around by rejecting the incompetence and refusal of the Yoon Seok-yeol government, whose approval ratings are hesitating day by day." The party further stated that the charges were "unfair" and called the investigation "manipulated" by the prosecution.
Following the indictment, Lee commented on the charges, remarking that "the prosecution's level of creativity is dwindling. Our citizens will see the absurdity of this case upon close examination." He urged the Yoon Seok-yeol government to focus on the pressing issues facing the nation, stating, "If you possess such power, use it to take care of the difficult lives of our people and to bolster the nation's security and economy."
This new indictment adds to Lee's legal woes, as he is now involved in his fourth court trial. He is already facing three ongoing trials at the Seoul Central District Court, which involve allegations of development project-related bribery, election law violations, and perjury.
The indictment of Lee Jae-myung has sent shockwaves through the South Korean political landscape, with the Democratic Party rallying behind their leader and questioning the motives behind the prosecution's actions. As the case unfolds, the nation will closely watch the proceedings, eager to learn the truth behind the allegations and the potential implications for Lee's political career and the future of the Democratic Party.
